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UFS Business School helps young people become entrepreneurs

12 December 2022 | Story Kekeletso Takang | Photo Supplied

web read more — Through the New Venture Creation Programme, the UFS Business School aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The University of the Free State Business School (UFSBS) recently hosted a New Venture Creation programme aimed at mitigating unemployment among the youth. Through this programme, the UFSBS aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The unemployment rate in South Africa was 33,9% in the second quarter of 2022, with youth remaining particularly vulnerable in the labour market. The New Venture Creation programme, funded by the Education, Training and Development Practices Sector Education and Training Authority (ETDPSETA), provides the opportunity for 100 unemployed youth in the Northern Cape and 100 unemployed youth in the North West to be part of the programme.

In addition to the UFSBS, the ETDPSETA has also partnered with the Office of the Premier in the Northern Cape, the Sol Plaatje Municipality, and the Department of Social Development. These partners assisted with the identification and recruitment of participants in order to ensure the right people were included in the programme.

“For me, the programme was informative and practical,” said Paseka Tlali, one of the top achievers taking part in the New Venture Creation programme. “It allowed me to learn about developing a business plan. Since completion, I have registered a business focusing on media consultancy. Through my business I can educate others on the importance of developing a personal brand.”

David Gool, another participant from the Northern Cape, said, “I have now become a social media ambassador working with Herbalife as their brand ambassador, thanks to the programme.”

Participants were taken on a practical journey to identify an idea and turn it into a profitable small business. Not only were they taught about new venture creation, but they were also taken on a journey to understand themselves better. The four-month programme saw participants go from attending classes to presenting their business plans to a panel that was also referred to as “The Circle of Elders”. This panel consisted of the ETDPSETA, the UFSBS, the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (SEDA). They provided each participant with practical feedback and guidance on how to make their planned venture a reality.

The New Venture Creation programme includes the following study units: Entrepreneurship Journey, Marketing Plan, Operations Plan, Business Model, and Business Plan Framework, among others.

Graduation ceremonies were held at the completion of the programme in De Aar and Kimberley, sponsored by Standard Bank.

Read up on more programmes offered by the UFS Business School here

News Archive

UFS Alumni honours four former Kovsies

2008-04-11

The University of the Free State (UFS) will honour four old Kovsies during the Kovsie Alumni Gala Awards dinner on Friday, 16 May 2008.

UFS Alumni chose Juan Smith as the 2007 Kovsie Alumnus of the Year. Dr Sherylle Calder, Dr Derick Coetzee and Prof. André Claassen will each receive the Kovsie Cum Laude Award. This award is made to honour UFS alumni for exceptional achievements and contributions to the UFS.

Juan Smith, member of the victorious World Cup Springbok team and captain of the 2007 Vodacom Free State Cheetahs Currie Cup winners, will receive the 2007 Kovsie Alumnus of the Year award. This award is made to a Kovsie alumnus for outstanding performance on national or international level. Smith made his Springbok debut in 2003 and has received much praise for his contribution to the side since then.

Dr Sherylle Calder and Dr Derick Coetzee will both receive the Kovsie Alumni Cum Laude Award. Both have played a key role in the preparation and conditioning of the Springbok team. Dr Calder has also been highly successful as part of the coaching unit for the English rugby team that won the World Cup in 2003, and the coaching team for the Australian cricket side. She is a pioneer in the field of visual awareness. Dr Coetzee has been the fitness conditioning expert for the Springbok team for the past four years. The success of the team in the World Cup is a testament to his achievements.

Prof. André Claassen will also be honoured with a Cum Laude Award for his contribution in the advancement of the Department of Otorhinolaryngology. He has many personal achievements in his discipline and has received several national and international awards, including one for the first cochlear implants in the Free State. The Cum Laude Award is given to an alumnus for outstanding service or achievement on local, national or international level in his/her field or discipline.

The Gala Awards dinner is a public event and will take place in the Reitz Hall of the Centenary Complex on the Main Campus in Bloemfontein. Microsoft is co-sponsor of the event. Those who are interested in attending can contact Ms Annanda Calitz at 051 401 3382 or alumni@fus.ac.za.

For information regarding the Kovsie Alumni Annual General Meeting, please contact Ms Annanda Calitz 051 401 3382 or Mr Lucas Radebe at 051 401 3751.

Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454

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